Rental Industry is one of the thriving sectors that continue to be lucrative yet rewarding for businesses. With changing lifestyles and persistent increase in pricing of products or services, customers are moving to more affordable options to lessen the burden on their pockets. Equipment Rental is, thus, an incredible way to use and experience the product without actually owning it. It not only serves the purpose but also lowers the cost too by replacing the need to buy the product. This fact has made rental space one of the booming markets and eventually making it a billion-dollar industry. This rampant growth in the rental sphere has unlocked opportunities and pushed many entrepreneurs to set up and grow their own rental business.
While having your own business sounds like a daydream and offers a lot of freedom, but this isn’t a bed of roses. At every step, you have to deal with possible challenges and hurdles that make operating the business a daunting task. You need to be close to perfection to establish and scale your business. This task is not easy when you have multiple functions at your hands and working as a solo performer. Things can turn up messy and scary sometimes. So you got to have a backup to count on that can help you support and manage your rental business. This point is where rental software comes to the picture. Rental software comes handy when you need to serve undivided attention across multiple aspects of your business. It saves you time and seamlessly streamlines your rental business.
Therefore, keeping your business always on track and making it a profitable venture. Want to know? Which rental software works best? Here is the list of best rental software for the industry:
Booqable is among the rental management software that has been for quite a long time in this space. Booqable software developed in 2014 with a focus on small and medium-size rental businesses. The software promises to solve the predicaments faced by rental owners by wiping out complexities involved in handling the rental company.
Booqable, with its simplified and minimal design, caters to the need of multiple rental segments. This rental management software combines modern technology and ultra-sleek design to offer powerful features essential to manage a rental business. Some of the features Booqable have:
Booqable lets you keep track of all your valuable inventories and manage them from a single dashboard. Not only you can manage inventory but also can create product variations, check availability, and manage the pricing structure of each of the products.
Booqable incorporates ultra-modern technology capable of generating rental agreements, invoices, tax statements, and other documents. It eliminates the need to spend time in long lines to complete documentation. Plus, you can easily customize the document and create beautiful designs and can send them to the customer in one click. Thus, it is one of the simplified features of this software.
It offers you a choice to take your business online with an online store combined with the online booking system. The customers can easily choose and rent products within minutes. Thus create a phenomenal user experience.
This software has the functionality to be integrated with multiple platforms, including one of the most popular ones, such as Shopify, WordPress, Weebly, and Squarespace.
Multiple Currency Support
While you own and operate a business in any part of the world, the rental software allows your customers to pay in their local currency. It has pre-built support for multiple currencies making it easier to accept and process payments.
A striking feature of the rental software is creating and applying discounts on existing or new orders. This feature helps improve customer loyalty and gain more exposure to the rental company.
Scheduling orders are subject to the availability of the products in the inventory. With automated availability and pricing calculation, you will be scheduled orders and reserve products quick and easy.
Booqable makes it easy for business owners to maintain and use the database of customers. Business owners can use a customer database to their advantage, see order history, contact information, and create specific discounts for regular customers.
Data has a significant role to play in getting an insight into your business performance. With in-depth performance reports, you will be able to understand every minute details of the business better. Thus, it aids in a better decision-making process.
- The most significant setback of Booqable is that it doesn’t allow partial payments before taking rental orders. This way, your customers have to pay in full either upfront or after receiving orders and security deposit. This gap could refrain the customers from making rental orders and eventually leave your website.
- As there is no mobile app or mobile version available, it is quite challenging to work on this software.
- Organizing products can be a real challenge as there is no way to group inventory products according to their category.
- If you operate your rental business with varied pricing on multiple events, days, or weekends. Setting up custom pricing will not be easy because it still lacks those features.
The basic plan starts with Essential $35/month in which you get no essential reporting and scanning feature. Plus, support is limited. To get more features you have to upgrade to Pro $95/month or the Premium $299/month plan.
EzRentOut is another popular name on the list renowned for its user-friendly interface. EzRentOut is a cloud-based rental management software that makes it easy for customers to book rental equipment. It has been developed keeping the precise requirement of multiple industries in mind. As the software is easy to use and highly customizable, it becomes an all-in-one solution to empower several sorts of rental businesses, which range from construction rental, audio/visual equipment rental, party, and event rental, IT rental, and sports rental. While you operate in any of these rental industries, it is imperative to keep every segment and department of your business optimized. So you can not only save your time but also can focus more on customers and growing your business. EzRentOut has got multiple features that address each of your plights in keeping your business forward. Some of the features are:
It allows you to create, manage, and schedule all your orders from the single dashboard. This is an exciting feature which comes handy while operating the rental business.
Whenever a customer rents out equipment, the rental software automates invoicing creation, generation, and customization process. It also helps to track payments of existing orders by the aid of an invoice tracking system. Moreover, it automatically sends the generated invoice to customers and eventually saves a big chunk of time.
Employee performance is a critical metric that helps business owners to identify potential pitfalls and challenges in the growth of the business. This becomes exceptionally crucial when you need to achieve the necessary milestones that highlight the profitability and success of the company. This rental software delivers a quick report on your employee’s performance. So you can perform tweaks and turn the needle on your side.
Generating clean and beautiful invoices is pretty straightforward. This software has a remarkable attribute to be a professional designer.
Create, schedule, and monitor all in advance or the moment when your customer demands. This software solves all your worries and frees yourself from the hassle of managing manual rental for your equipment.
Rental assets are a significant part of any rental business. EzRentOut rental software furnishes details of your current inventory status, state, maintenance, and location with ease.
Android and iOS Mobile Apps
The EzRentOut Rental software offers customers added flexibility to keep an eye over the rental business with its dedicated android and iOS smartphone apps. Whether you’re at home, public place, or traveling to some other location, you can completely take control of every aspect of your rental business with apps having in-built functionality of the rental software.
It is imperative to have an online store to take orders by effortlessly driving the prospective customers on your website. EzRentOut offers to build a professional rental webpage to showcase all your rental assets in one place. Therefore, it makes it easy for customers to make a reservation. However, creating an online store is not entirely free and entails a cost in hosting, maintenance, and marketing of the website.
Locating rental assets can be a pain when they float from one on-site project location to others. This feature lets you identify and manage all your equipment. So, they are not lost or damaged while in the rental process.
- While it is easy to work with this software, but at times when you need to monitor performance and accounts, you need to have consolidated reports. The report which should showcase each of the details such as rental fees, time, taxes, shipping and delivery charges, and other costs in a single place. If you are looking for those features in this software, you would probably end up being disheartened.
- If you are a big fan of customizing things the way you want them to work, unfortunately, you would not be able to do it with this one. There are multiple features with little possibility of customization. For example: If you want to ship products as per your flexibility and not according to the date software prescribes. You cannot do that.
- Other missing features include Google tag manager functionality, ordering filtering by return dates, etc.
There are 3 Pricing plans. With the basic standard plan of approx $50/month you get limited features with no choice of online rental store, reports generation, credit card payments. To get more features like these ones, you have to upgrade to more expensive plans of Plus $135/month and Premium $225/month.
Reservety is comparatively new among other rental software, but its ease of use, functionality, and powerful rental features makes it unmatched in this segment. Backed by the vast years of experience in rental space and a clear objective to make the rental process extremely easy for customers, it is what formed the basis of the development of Reservety.
Reservety, with its ton of stunning and exciting features, has a clear edge over its competitors. Some of the features that set-apart this rental software from others are:
Inventory Management and Tracking
Reservety makes inventory management and tracking process a sheer joy for you. With its clean and straightforward dashboard, you can track all your orders from a single window. This feature looks pretty much similar to those of other rental software, but it is not the case. You can filter the orders according to the date, customer name, product name or code, and even reservation status. Therefore, it makes sure none of your rental equipment is left untracked. From a rental owner’s point of view, it is an exceptional feature when you have a ton of products and need to keep track of specific products and their availability whenever your customer asks for a reservation.
Besides managing and tracking your orders, you can change the reservation status once customers return the equipment, and this is how the inventory is instantly updated. This is not all; you can quickly generate inventory reports in your preferred format such as xlsx, doc, or pdf to be used in reports and managing to ship. Hence, it is quite distinct in its functionality and performance.
Online Store Builder
An online store is a place where most of the customers for your rental business lands and make a reservation. It is the first and foremost thing that potential customers take into consideration whether to rent from you or not. So, space should be highly appealing at the same time smooth and functional to make a positive impression of your brand on customers.
Although, most of the rental software like EzRentOut and Booqable offer to provide an online store. But there is a cost associated with its hosting and maintenance, which makes it extremely expensive for rental companies to afford. Reservety as a savior offers a free website builder who not only cuts down cost on building and maintaining a rental store but also makes scheduling orders for rental easy. Thus, when you choose Reservety for your business, you have an advantage over your competitors.
Specific Reservation period
Reservety makes it easy for rental owners to create a reservation for a particular period. There is a time when the customer needs equipment on alternative days and dates. Thus, it requires a skipping date and making custom booking schedule for renting equipment. So, the customer isn’t charged for more days than he wants. There could be other possible reasons where you need to make reservations for a particular period considering the availability of your business and working days. Most of the other rental software doesn’t offer you the luxury to do this, but Reservety does it all.
Shipping and Delivery
Whether you operate from one location or multiple ones, the rental companies have to keep the products available as close to the customer as possible. The customer hates long waiting times, so you have to make sure products are delivered to the customer quickly from the moment they make a reservation. This goal can be achieved by making the product available through multiple warehouses. Reservety allows you to create various shipping zones with custom prices for each of the shipping zone. Alternatively, you can also create flat price shipping for all of the zones. There are other super-powerful features like scheduling pickup from a custom location. In case, the business operates on a large scale and has multiple warehouses and pickup locations. You can easily add various picking and warehousing option. Plus, you can enable routing, which lets your customers track their bookings via Detrack integration.
These features make a huge difference by adding flexibility for the customers who are busy with their routine stuff.
Set-up and Accept Payment
Integrating multiple payment options in an online rental store works exceptionally well with this rental software. This rental software supports 30+ payment gateways to accept and manage payment globally anywhere. This feature makes its competitors stand nowhere in terms of payment management. It includes some of the most popular payment platforms like PayPal, Stripe, Direct bank transfer, and cash on delivery. Setting up payment is quick and easy, and 24/7 customer support is always at your hand to help you out.
While these all features sounds like too many. Reservety has other super exciting features to deliver superior performance for your rental business.
Make Your Business Simplified
Reservety comes with endless possibilities to make the rental business simplified and easy. When you have two websites- First for the company and second to take bookings, it could be tough to handle and manage both with limited resources. It takes both time and money out of your pocket. Here Reservety presents with a possible solution to migrate your existing website from any of the popular platforms like Wix, Shopify, Magento, and Prestashop. Therefore, merging each of the sites into a single platform will save your money, energy, and time to serve both.
Take In-Store Reservations
The business owners have to be ever ready for every possible opportunity that comes their way. At times, when customers find a way to your store, and you should find a way to make a reservation. Taking orders manually can be time-consuming; hence, Reservety can be a fabulous way to take in-store orders with an integrated POS solution, which makes a taking point of rental quickly.
Invoicing with your Favorite Tools
Most people are accustomed to using popular accounting software like Xero, Quickbooks, and others. With easy Xero, Quickbooks, and other integration, it is easy to enjoy the functionality of these tools while closely monitoring your cash flows.
Other Great Features:
Efficiently take orders with your smartphone calendar with Google calendar integrations. Plus, Features like SMS notifications quickly updates on the status of orders, when a customer makes reservations.
- Managing a vast inventory can be an overwhelming task. Rental owners have to assign a serial or product id to figure out the products quickly. This feature is essential when you need to search for products from a ton of inventory items. At the moment, Reservety doesn’t hold this functionality to assign serial numbers to products. However, in an endeavor to be the best software, the feature is in development mode.
- Having a mobile app adds flexibility to the activities you can perform to manage the rental operations. Reservety does not offer a mobile app, but it is highly mobile-optimized. So you have the same functionality and experience that you get on the desktop.
Reservety offers competitive pricing in this league with absolutely every feature you want for your business to succeed. The basic Startup Business Plans of $29/month allows you to add up to 30 products with unlimited features with a bandwidth of 3000 unique visitors per month. All the other plans have the same features except for the number of visitors. The other plans are Small Business $49/month and Medium Business $79/month.
Rentman is cloud-based rental management software on the list. The rental software is precisely developed for the event and audiovisual equipment rental industry. Rentman certainly increases productivity across all the departments and helps speed up collaboration with its next-generation software system. This rental software is suitable for small and medium level companies to manage events like concerts, conferences, seminars, festivals, weddings, and other occasions.
Rentman creates the perfect ambiance for the events by correctly managing all the resources and activities in accomplishing a successful event. Some of the noteworthy features of the rental software are:
Rentman allows you to complete projects way faster by improving team collaboration and communication. Once you set up any plan, it quickly lets you add equipment according to the desired job and generates quotes and invoices for the same. This feature isn’t all; you can also schedule your rental resources over different times and locations.
If you have a large number of equipment in your inventory, managing and controlling each of them can be a daunting task. The rentman elevates your warehouse productivity by swiftly scanning QR codes and generating packing slips, tracking items, and generating an invoice for damaged products.
Repair and Inspections
It assures that each of your equipment produces cash flow for the rental business by efficient management of all rental equipment. In case any of the rental equipment requires repair. It can quickly notify about it.
Crew Planning and Communication
Time management is the key to generate more profit out of the rental business. With crew planning and communication features, you save time looking for the right person to move and transport all the equipment.
Managing stock level becomes absolute comfortable with automatic stock updating features. Moreover, it automates the cost calculation process whenever you plan for new or existing equipment in the inventory.
Quoting and Invoicing
Creating a professional document is what sets you apart from your competitor. With Rentman, entrepreneurs can quickly generate professional looking invoices, quotes, and reports. Plus, it becomes easy to send simple, fast, and accurate quotes for the customers.
- The biggest shortcoming of the software is it needs an internet connection to operate. Any fluctuation or connectivity issue can ruin your chances of managing the rental business effectively and efficiently.
- There are varies features that make rental easy, but from the sales side, you don’t have many choices.
- The software works unexpectedly slow while searching for products in databases through QR Codes.
- The software doesn’t support multiple languages.
Rentman has 3 pricing plans: first is Lite $35/month with limited support, customization, and data import. To get more features, you need to upgrade to Classic $65/month and Pro $75/month
5. Event Rental System (ERS)
A web-based management software that automates the event rental management process. The event rental system (ERS) works precisely for the party or event rental industry to take reservations and showcase the products’ real-time availability. It works with smart add-ons to provide you features like customer surveys, reports, electronic marketing, scheduling, and routing tool. This software is easy to work with. It can be accessed from anywhere with an internet facility and even from your phone. Some of the Features of Event Rental System (ERS) are:
Automated scheduling, routing, and load sheets
ERS offers complete automation of scheduling process, routing, and loading sheets. Therefore, you can easily monitor your booking and reservation process from the moment your customers make a reservation to the point of delivery.
Tax, demographics and sales reporting
ERS can generate insight reports for every much any part of the rental business. Whether you need quick reports for customer demographics, taxes, or sales, its dedicated reporting features let you take charge of your business within a matter of time.
It is essential from the customer’s point of view to skip desk long waiting hours waiting for bookings and documentation. ERS can reduce the hassle of manual documentation by automatically generating digital contracts for your customers.
Real-time online ordering
Customers can book your products in real-time with a complete easy to set-up website. The website is a great way to grow your online presence and take orders while you sleep.
Automated marketing tools
ERS offers automated marketing tools for your online business; therefore, making sure you outrank your competitors and can dominate the online world.
Automated reminders of their upcoming events
ERS quickly notifies you for future events with the automatic reminders feature. Thus, it makes sure you don’t miss out on important updates, which could be a matter of great importance.
- The software needs much attention to showcase insight information on minute details like routing, which is crucial from customer point-of-view.
- Limited functionality to generate coupons, promo codes.
- Tax calculation can be frustrating as the software works with the default tax rate. If your tax rate system is different, then this software is of no use for cost calculation.
The prices are pretty high as compare to others which starts from $70/month to $500/month.
A complete rental booking and management solution for business owners that alone can move your rental business forward. Rentmy offers rental companies with superb performance and flexibility to keep everything on track and organized. Some of the features of Rentmy are:
Real-Time Rental Booking: Rentmy makes it easy to take rental booking online or in-store with the rental store and POS solution. This trait makes your rental process optimized and super-fast.
Add Rental Functionality to Any website: By installing a WordPress plugin, you can easily add functionality to rent equipment easily. Therefore, customers can efficiently complete bookings from your website within minutes.
Mobile-Friendly: Rentmy is designed to perform exceptionally well on mobile. With a mobile-optimized design, you can take orders on the go and can manage all your store operations.
Customer Relation Management: It is easy to interact, help, and take feedback from your customers. Rentmy, with its flawless operations, can be a new trailblazer in the customer relationship management segment.
Social media Integration: With this feature, you can easily share your rental products and customer responses over social media platforms.
- There is no way to generate custom pricing for businesses in case you work with different pricing.
- There is no feature of scheduling orders on custom dates.
- If you are looking to entice customers with multiple discounts, coupon codes, promotions, you are likely to face a setback because no feature allows you to generate discount codes for specific events.
There are 4 pricing plans with basic starter plan of $44/month which excludes technical support, hosting, checkout and merchant processing options. For more features, you have to upgrade to bronze, silver, and platinum plan.
Technology has transformed the way we live our life. Having fascinating systems such as rental software for your business is a promising move that every business owner and even customers would appreciate.
Choosing the best rental software could be a tough bet when each of the software has many similar features. And, each of them incorporates pretty much identical technology in accomplishing those functions. It all boils down to having a cost-effective rental management solution, which is lucrative yet effective for business management. Reservety has a clear advantage over other software by offering a free website that involves no hosting, development, and maintenance cost. This fact is although a small part of a bigger picture, but it has a significant impact on your business. The rental store is the first line of contact where customers interact, explore, and book the rental equipment. Having free easy to build a website is equivalent to half the job done.
Additionally, Reservety possesses other excellent features, such as creating a specific promotion and loyalty program, which creates a massive difference from a customer experience point of view. Having loyal customers for any business means repeated customers and, thus, enormous profit. Most of the other software doesn’t hold such features. Therefore, it has a clear edge over others.
Making the right move to choose the perfect rental system can be a decisive step to attain the vision rental owners have for their business. It takes only the right tool, an ideal strategy, teamwork, and passion for becoming the smartest in your niche.